Thermos Drinkware Market: Current Analysis and Forecast (2023-2030)

Report Description

Thermos Drinkware Market Size & Forecast

The thermos drinkware market was valued at USD 3277.28 Million in 2022 and is expected to grow at a strong CAGR of around 6% during the forecast period (2023-2030) owing to rising sport activities.

Thermos Drinkware Market Analysis

The thermos drinkware market is experiencing a surge in popularity, driven by a confluence of factors that cater to both environmental consciousness and evolving consumer preferences

According to a 2023 report by Statistics Canada, nearly 60% of Canadians report consuming reusable water bottles, highlighting a growing preference for sustainable and convenient hydration solutions.

According to a 2023 report by the French Ministry of Ecological Transition (ADEME), there was 20% increase in reusable drinkware purchases by French households, with thermos glassware leading the pack

In April 2023, Reduce, announced its nationwide Walmart debut with five new colors, two exclusive summer-centric designs and a brand-new product just in time for warmer weather. The rollout, which follows a successful 150-store test of the company’s drinkware line since April 2022, will be prominent in all 3,000+ Walmart stores with product endcaps through July 2023. Thermos Drinkware Market Trends

This section discusses the key market trends that are influencing the various segments of the Thermos Drinkware Market as identified by our team of research experts.

Beverage Bottles Devices Transforming Industry

The beverage bottle segment within the thermos drinkware market has witnessed steady growth over the years, fueled by the increasing demand for portable, insulated containers for beverages. This growth can be attributed to factors such as the growing emphasis on sustainability, health-conscious lifestyles, and the convenience of carrying beverages in insulated containers. Additionally, advancements in technology have led to the development of innovative features in beverage bottles, such as vacuum insulation and temperature retention properties, further driving the market expansion. In addition to this, the rising work population and associate surge in the consumption of tea or coffee beverages is also impacting the growth of the segment in the coming years. According to, World Tea News, 297 billion liters of tea were consumed worldwide in 2021.

Asia Pacific is Expected to Grow With Significant CAGR During Forecast Period

Asia Pacific region is anticipated to grow with a high CAGR during the forthcoming period. The Asia Pacific thermos drinkware market is experiencing a boom, driven by several key factors. Rising disposable income, coupled with a growing health and sustainability consciousness, is fueling demand for these convenient and functional beverage containers. Furthermore, there’s a growing shift towards sustainable practices. Consumers are opting for reusable products, and thermos drinkware provides a long-lasting and eco-friendly alternative to disposable cups. This aligns perfectly with government initiatives promoting sustainability. For instance, India’s “Swachh Bharat Abhiyan” (Clean India Mission) campaign encourages the use of reusable products, creating a favorable environment for the thermos drinkware market. In addition, the rising trend of urban living in countries like India is also stimulating the demand for portable drinkware, to provide convenient solutions for staying hydrated at work.

According to a 2023 report by the China National Household Waste Composition and Management Research Center, disposable plastic waste in China has reached an alarming 60 million tons annually. Thermos glassware offers a sustainable and reusable alternative, aligning perfectly with the desire to reduce waste. Moreover, with a growing middle class prioritizing well-being, the demand for products that maintain beverage temperatures for extended periods is rising. This trend is particularly evident among younger generations, as a 2023 Ministry of Education survey revealed that over 70% of university students in China actively carry reusable water bottles.

Thermos Drinkware Industry Overview

The thermos drinkware market is competitive and fragmented, with the presence of several global and international market players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, and mergers and acquisitions. Some of the major players operating in the market are Sigg Switzerland AG; Thermos L.L.C.; TIGER CORPORATION; Camelbak; Zojirushi America Corporation.; Stanley PMI; Klean Kanteen; Hydro Flask; KINTO Co., Ltd.; and Contigo Brands.

Thermos Drinkware Market News

• In August 2020, Xiaomi Corporation launched Mija Bullet Thermos Flask, a water bottle containing laser welding technology-based vacuum layer inside it. Such product has 12 hours of cold/heat preservation with 500ml capacity.
• In February 2024, Thermos Canada announced a partnership with the Canadian Parks and Wilderness Society (CPAWS) to promote responsible hydration habits in national parks. This initiative highlights the growing synergy between thermos glassware and the active, eco-conscious consumer in Canada.
• In February 2024, Thermos Mexico announced the launch of its “Hidrate y Logra” campaign, promoting the importance of staying hydrated with its line of insulated water bottles. This focus on health and sustainability positions thermos glassware as a vital tool for a growing segment of Mexican consumers.

Thermos Drinkware Market Report Coverage

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global thermos drinkware market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Thermos Drinkware Market Analysis (2023-2030)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global thermos drinkware market were the three major steps undertaken to create and analyze the adoption of thermos drinkware in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global thermos drinkware market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the thermos drinkware market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the thermos drinkware market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as product type, capacity, and distribution channel. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the thermos drinkware market. Further, we conducted factor analysis using dependent and independent variables such as product type, capacity, and distribution channel of the thermos drinkware market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the thermos drinkware market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global thermos drinkware market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the thermos drinkware market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global thermos drinkware market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global thermos drinkware market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the product type, capacity, and distribution channel in the global thermos drinkware market.

The main objective of the Global Thermos Drinkware Market Study

The current & future market trends of the global thermos drinkware market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the thermos drinkware market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of the product type, capacity, and distribution channel
• Define and analysis of the regulatory framework for the thermos drinkware industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the thermos drinkware market for the major region
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
• Company profiles of the thermos drinkware market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

You can also purchase parts of this report. Do you want to check out a section wise
price list?

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